Mutual Advisors LLC Has $702,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mutual Advisors LLC raised its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 80.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,928 shares of the technology infrastructure company’s stock after buying an additional 2,637 shares during the quarter. Mutual Advisors LLC’s holdings in Akamai Technologies were worth $702,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in shares of Akamai Technologies in the third quarter valued at $4,238,000. Alpine Global Management LLC acquired a new position in shares of Akamai Technologies in the third quarter valued at $2,791,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Akamai Technologies in the third quarter valued at $1,048,000. Anchor Investment Management LLC acquired a new position in shares of Akamai Technologies in the fourth quarter valued at $175,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Akamai Technologies by 117.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 218,369 shares of the technology infrastructure company’s stock valued at $19,625,000 after purchasing an additional 117,900 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $109.63 on Thursday. The business’s 50-day simple moving average is $114.98 and its 200 day simple moving average is $112.61. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 3.06 and a beta of 0.72. Akamai Technologies, Inc. has a 12-month low of $75.88 and a 12-month high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 earnings per share. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

Insider Activity at Akamai Technologies

In related news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $117.58, for a total transaction of $470,320.00. Following the transaction, the executive vice president now owns 20,065 shares in the company, valued at $2,359,242.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders have sold a total of 37,353 shares of company stock worth $4,159,203 over the last 90 days. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. KeyCorp increased their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.50.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.